NEM (XEM) blockchain is primarily designed for security and efficient transactions. It utilizes the Proof of Importance algorithm to validate transactions. Although it's an older cryptocurrency, I don't see much development in comparison to its counterparts. There seems to be a lack of updates even on their Twitter handle. However, they hinted in a previous post that a stable coin might be introduced on this chain. Hence, I'm not expecting significant progress for NEM this season.
On the monthly chart, it has been maintaining a decent trend over the past four months. However, it has created good liquidity up to $0.03. There's an order block around $0.06. If it breaks, we may witness a direct move to zero points to three.
The weekly chart is forming a ranging frame. Two scenarios may unfold: either it retraces or breaks out and touches the $0.06 level. However, I believe a breakout may occur from here.
According to the one-day chart, I see a bearish structure for this coin. It may tap $0.039 again, then experience a slight bullish move before retracing and then moving upward with liquidity.
To enter, I'll open the four-hour chart. There's liquidity at $0.043. If it taps, that will be our entry point. For entry, the zero point zero four three to zero point zero three nine range will suffice, with a set SL at $0.036. Selling at a ten percent profit after entry would be optimal.
Finally, it's important to note that my blog doesn't provide financial advice. If anyone incurs losses by following it, I hold no responsibility.